The latest Investing Matters Podcast episode featuring Jeremy Skillington, CEO of Poolbeg Pharma has just been released. Listen here.
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Great opportunity to buy millions of shares today if you want a bigger slice.
You have assumed that the shares to be distributed (670,855,902 / 2.98) = 225,119, 430 will all be in addition to the 24,997,500 that currently exist.
It's equally possible that only (225,119,430 - 24,997,500) = 200,121,930 shares will need to be issued to distribute fully AND pro-rata.
That might explain the 'unallocated' 2,500 shares : a rump capital for the company, until it has served its purpose and can be dissolved.
Or maybe the eventual distribution lies somewhere in between.....
Fact is, we just don't know at this stage.
But we will hopefully find out soon enough, since CF's eventual holding will be RNSable.
IMO
We actually won't know the final % holding of CF (nor our own) until the final share count of the newly listed company is announced. I see that currently we are working on the assumption that 2.98x ORPH shares will be added to the existing share count at PoolBeg/OP HOLDCO 2021 LIMITED. When this company lists it will announce how many shares are in issue.
In addition to this Cathal Friel has stated in recent presentations that the Immune Supressor Modulator company will require funding ("keep an eye on your Primary Bid accounts") and this will create further dilution to his and our own holdings.
Padrock no wonder they removed you from the telegram group. Stop bleating on about it. What have you done apart from invest your money. If the return isn't what your happy with spin the aim roulette wheel and move your funds elsewhere. Sick of fkn reading your messages regarding this now.
Personally, I just prefer these things to go through a remuneration committee, vote at AGM rather than 5 or 10% getting creamed off without any shareholder involvement. Same end result but leaves a better taste, esp after hearing repeatedly for over a year that no-one in OO gets share options, all salaries are capped at a low level etc etc. The reality is different. No real complaint as he is creating value for all us, just the process knaws a little.
I see he's been pontificating on ADVFN as well..
Bill Gates,Larry Ellison,Musk,Bezos,Jack Ma never acquired sharesI
I'm surprised he hasn't taken a bigger share for board control reasons..its how the system works.
(Above tycoons might have bought d)uring market turmoil as a support mechanism)
I can't see the issue with pointing out CFs increase in holdings of spin-offs. After all it really shouldn't be a secret.
However, the result of this is whilst it keeps these guys fully aligned with us shareholders, in does slightly dilute us too.
I don't think that I have a problem with this, but it should be noted, and not be excessive.
Without CF we probably wouldn't be here, he has performed extremely well, and been lucky. Napoleon chose lucky generals whenever possible, and for good reason.
GLA including CF.
Did you know that some people don't leave tips despite great service.
Your maths is correct Padrock. It's your argument that holds no water.
Nobody is denying that CF is getting a bigger slice. Everybody else is saying he deserves it.
And just to try and get ahead of you... he'll also deserve a bigger slice of the other spinoffs later in the year.
Now, can you find another drum to bang on please?
well earned in my view. please give it a rest now padrock - the whole world knows what you think
Given past misunderstandings, maybe better to see what actually transpires….and comment / complain then……..?
And what’s your point, caller?
That CF should turn around this company, create four new potential investment vehicles, quadruple the share price just for the love of it and out of the goodness of his heart? I don’t think he’s ever claimed that he’s in it for charitable purposes. The fact remains that his interests are completely aligned with those of shareholders, if you think his cut is too great, there are plenty other shares to invest in (though good luck finding a CEO that doesn’t expect to be rewarded for his risks)
If we take shares in issue from recent exercise of warrants RNS, divide by 2.98 to work out new Poolbeg shares, and add existing poolbeg shares you get 250,116,628 shares. If my maths is correct the existing 5 Poolbeg holders are getting just shy of 10% (24,997,500 shares), with CF getting 6%. That roughly doubles his share of the spin off compared to his open Orphan holding. He's done very well for himself there